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Embracer CEO Is Full Of Excuses

24.4.2024
The past year or so has been a slow-moving trainwreck for Embracer Group, following the large company’s unprecedented studio acquisition spree. And, after announcing on April 22 that the company was planning to split itself up into three different companies, the CEO of Embracer is only filled with...

GTA VI Publisher Cancels $140 Million In New Projects And Lays Off Hundreds

17.4.2024
Grand Theft Auto VI publisher Take-Two Interactive announced massive cuts in an SEC filing at the end of business today. The company revealed it will lay off 5 percent of its roughly 11,000-strong workforce and has cancelled several in-development projects valued at $140 million in an effort...

Bitwise President Praises Tether’s Successful Business Model

10.4.2024
Teddy Fusaro, president of Bitwise, one of the crypto index fund managers, has praised the business model of Tether, the company behind the largest stablecoin in the crypto market. Fusaro emphasized that Tether obtained net income numbers close to the ones of traditional institutions such...

Dragon Quest Producer Steps Down Amid DQ12 Delays And Square Reorg

5.4.2024
Earlier this week, Square Enix began undergoing a reorganization that has seen countless staff shuffled around. The restructuring is a bid from Square Enix’s new president, Takashi Kiryu, to address “flagging sales” of the company’s entire portfolio, from AAA games to mobile titles. As part of...

Online Games Act Like Unregulated Banks, And The US Gov’t Has Noticed

4.4.2024
A new report from the United States Consumer Financial Protection Bureau (CFPB)—an organization focused on enforcing the laws that protect consumers—indicates the bureau is aware of and monitoring big online video games that are filled with in-app purchases, digital currencies, and shady...

Thanks To Hits Like Wordle, The New York Times Is Now A Gaming Company

1.4.2024
The New York Times might be best known for its long-running newspaper. But new data shows that thanks to popular games like Wordle, Strands, Connections, and more, the Times has quietly become a video game company that just so happens to have a newspaper subscription, too. Read more

CDPR Says Cyberpunk 2077 Has Made $750 Million So Far

28.3.2024
The redemption tour that Cyberpunk 2077 has been on since it was fixed up into a playable state has turned in some huge sales numbers. Developer CD Projekt Red recently revealed that the once-maligned-but-now-refined sci-fi first-person shooter has raked in over $750 million since the game’s...

Embracer Sells Borderlands Maker Gearbox For Less Than Half Of What It Paid

28.3.2024
Another company has escaped the gaping, acquisition-hungry maw that is publisher Embracer Group, as Borderlands developer Gearbox Software has been sold to Take-Two Interactive. This lines up with Kotaku’s previous reporting on the matter in February, in which sources told us Gearbox was nearing...

Digital Game Sales Continue Continue Killing Off GameStop, Analyst Says

27.3.2024
Video game and nerd culture retailer GameStop appears to be floundering once more. According to a Reuters report, the company recently laid off an unspecified number of employees after reporting a decline in earnings in the fourth quarter as physical sales fall and digital purchases rise.Read more

Sony Reportedly Halts PSVR2 Production As Headsets Fail To Sell

18.3.2024
The PlayStation VR2 is struggling, it seems. According to a March 17 Bloomberg report, Sony has paused of the PS5’s virtual reality headset after its initial supply has failed to pick up sales momentum, resulting in an overflow of unsold stock.Read more

Reddit’s IPO heats up: Latest news and what to watch

13.3.2024
Reddit, a social media giant, is looking to gain a better valuation ahead of its IPO launch. It will happen next week to float RDDT on the NYSE, which is the New York Stock Exchange. Shares going public is a milestone for which Reddit has seemingly worked hard; however, there are certain criticisms...

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